From the Sec­re­tary Gen­eral's desk…

FICCI Business Digest - - Special Features -

The share of manufacturing in In­dia’s GDP has stag­nated at 17% com­pared to over 30% for China over the last decade whilst ser­vices, com­pris­ing of IT en­abled ser­vices and other off­shore ca­pa­bil­i­ties, have in­creased to 51 per cent. The ‘Make in In­dia’ pro­gramme of­fers a golden op­por­tu­nity to In­dia’s man­u­fac­tur­ers to emerge from the shadow of the ser­vices sec­tor and cash in on the do­mes­tic and ex­port mar­ket po­ten­tial. The op­por­tu­nity to trans­form from ‘Make for In­dia’ to ‘Make in In­dia’ is ap­pli­ca­ble to med­i­cal tech­nol­ogy in health­care as well. Yet there are chal­lenges that have to be over­come. Th­ese chal­lenges re­late to in­verted duty struc­tures, prod­uct mar­ket & own­er­ship bar­ri­ers, land mar­ket and labour bar­ri­ers, in­fras­truc­ture and fa­cil­i­ta­tive poli­cies. In this back­drop, early this month, FICCI or­ga­nized the ‘Global Con­fer­ence on Med­i­cal Elec­tron­ics & De­vices’ on the theme, ‘Med­i­cal Tech­nol­ogy - Key En­abler to Swastha Bharat’. Quite ap­pro­pri­ately, San­gita Reddy, Chairperson, FICCI Ser­vices Coun­cil and FICCI Te­lan­gana & Andhra Pradesh State Coun­cil and Joint Man­ag­ing Di­rec­tor, Apollo Hos­pi­tals En­ter­prise Ltd., ad­vised med­i­cal elec­tron­ics & de­vice man­u­fac­tur­ers and health­care providers to in­no­vate and think out of the box , “us­ing their wits and hands” to pro­duce equip­ment for wide­spread screen­ing of po­ten­tial dis­eases af­flict­ing an in­di­vid­ual. This, she pointed out, would ul­ti­mately em­power an in­di­vid­ual to con­duct self-di­ag­nos­tic tests for pa­ram­e­ters such as blood sugar lev­els, heart con­di­tion and blood pres­sure. While ac­cess is a crit­i­cal com­po­nent in the re­ceipt of health care, there is a dire to adopt and main­tain global qual­ity stan­dards. We bring to you a re­port in this is­sue. This month also saw the en­gage­ment of Mem­bers of In­dian Par­lia­ment with rep­re­sen­ta­tives of industry, academia and se­nior of­fi­cials of the Gov­ern­ment of In­dia at a meet­ing of In­dia-US Fo­rum of Par­lia­men­tar­i­ans. The ini­tia­tive was in step with the cal­i­brated en­deav­our to strengthen In­dia’s in­ter­na­tional re­la­tion­ships through Track II ini­tia­tives. The meet­ing (see re­port) saw an an­i­mated and can­did di­a­logue on geopo­lit­i­cal and bi­lat­eral as­pects of the dy­namic In­dia-US re­la­tion­ship. Dis­cus­sions ranged from the U.S.-In­dia Joint Strate­gic Vi­sion for the Asia-Pa­cific and In­dian Ocean Re­gion, US aid to Asia, crit­i­cal is­sues con­cern­ing the fu­ture growth path of trade and in­vest­ment, In­dia’s de­vel­op­men­tal con­cerns to the need to build or­ganic partnerships in sec­tors key and In­dia’s sus­tain­able de­vel­op­ment strat­egy in crit­i­cal ar­eas such as ed­u­ca­tion, re­new­able en­ergy, clean tech and build­ing R&D ecosys­tems. We live in an ever-chang­ing world. The watch­word is to adapt and be­come adept. Nowhere is this more com­pelling than in the for­eign trade arena. As is known, the United States is fast track­ing the fi­nal­i­sa­tion of Trans Pa­cific Part­ner­ship and this de­vel­op­ment is bound to im­pact In­dian industry ad­versely. To sen­si­tise industry on what was com­ing its way, FICCI in as­so­ci­a­tion with CUTS In­ter­na­tional and IPE Global Pvt Ltd at a sem­i­nar on ‘Mega Re­gional Trade Agree­ments and their Im­pacts on the In­dian Econ­omy’ last month. While ad­dress­ing the sem­i­nar, Sujata Me­hta, Sec­re­tary (Mul­ti­lat­er­als & ER), Min­istry of Ex­ter­nal Af­fairs, Gov­ern­ment of In­dia, urged In­dian industry to fo­cus on im­prov­ing prod­uct stan­dards, manufacturing and ser­vices de­liv­ery to re­main com­pet­i­tive in global mar­kets. The mega re­gion­als have the po­ten­tial of sig­nif­i­cantly redefin­ing the global trade ar­chi­tec­ture. It is widely felt that In­dia must recog­nise the emerg­ing chal­lenges from the mega agree­ments cur­rently un­der ne­go­ti­a­tion and start pre­par­ing right away. And in keep­ing with the Prime Min­is­ter’s cam­paign ‘Make in In­dia’, industry must fo­cus on pro­duc­ing ‘zero de­fect, zero ef­fect’ prod­ucts to main­tain its share in the global mar­ket. We carry a re­port in this is­sue. I am happy to re­port that that start­ing from this is­sue of the mag­a­zine, we carry a new col­umn, ‘CEOSpeak’. Philipp von Sahr, Pres­i­dent, BMW Group In­dia, writes that ‘Make in In­dia’ has rekin­dled in­vestors’ in­ter­est and elab­o­rates on the di­men­sions that im­pact the mar­ket at­trac­tive­ness for global in­vest­ments.

We hope you will find the contents of the mag­a­zine in­for­ma­tive and use­ful.

A Di­dar Singh

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